Cyprus and Italy. Double taxation question

[Leomilano]

Hi there,


I have a simple question:


if I own some shares of a Cyprus company, I receive some dividend and I pay the Cyprus taxes, do I have to pay other taxes in Italy?


If the answer is NO, do I have to declare the incomes and saying I already paid the taxes or I can simply avoid to declare?


Thanks


Leo

 

[JohnLocke]

Well, it is the opsite of what you describe and how it works with a‌ Cyprus company! The Cyprus company will need to be controlled and Managed in Cyprus in‍ order to make use of the DTA between Italy and Cyprus, this is most often⁠ accomplished with nominees. You will need to declare the income in Italy but if you⁤ can proof the above mentioned, the tax has to be paid in Cyprus i.e. 10%⁣ corproate tax.